NIC-RACK: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NIC-RACK
Largest movements
- Tangible fixed assets -€960,059
down €960,059 (-97.2%), from €988,109 to €28,050
of which Land and buildings: -€860,281
- Current investments -€293,331
down €293,331 (-85.3%), from €343,775 to €50,444
- Cash +€52,243
up €52,243 (+84.9%), from €61,508 to €113,751
- Reserves -€533,878
down €533,878 (-75.9%), from €703,860 to €169,982
of which Distributable reserves: -€532,467
- Debts after one year -€448,916
down €448,916 (-100.0%), from €448,916 to €0
- Profit (loss) carried forward -€371,244
down €371,244 (-73.1%), from €507,621 to €136,378
- Other debts +€111,100
new in 2025: €111,100
- Trade debts +€100,231
up €100,231 (+454.9%), from €22,033 to €122,264
- Turnover +€1.3m
new in 2025: €1.3m
- Purchases and services +€1.1m
new in 2025: €1.1m
- Gross operating margin -€586,821
down €586,821 (-73.2%), from €801,283 to €214,463
- Taxes -€142,985
down €142,985 (-84.6%), from €169,004 to €26,019
- Depreciation -€70,880
down €70,880 (-70.6%), from €100,368 to €29,489
From the 2023 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,775,935 | €568,537 | -€1.2m | -68.0% |
| Formation expenses | 20 | - | €16,016 | +€16,016 | |
| Fixed assets | 21/28 | €991,437 | €40,265 | -€951,173 | -95.9% |
| Intangible fixed assets | 21 | - | €8,887 | +€8,887 | |
| Tangible fixed assets | 22/27 | €988,109 | €28,050 | -€960,059 | -97.2% |
| Land and buildings | 22 | €860,281 | €0 | -€860,281 | -100.0% |
| Plant, machinery and equipment | 23 | €36,916 | €11,704 | -€25,212 | -68.3% |
| Furniture and vehicles | 24 | €90,912 | €16,346 | -€74,566 | -82.0% |
| Financial fixed assets | 28 | €3,328 | €3,328 | = | 0.0% |
| Current assets | 29/58 | €784,498 | €512,256 | -€272,242 | -34.7% |
| Stocks and contracts in progress | 3 | €178,087 | €169,236 | -€8,851 | -5.0% |
| Stocks | 30/36 | €178,087 | €169,236 | -€8,851 | -5.0% |
| Amounts receivable within one year | 40/41 | €184,628 | €173,400 | -€11,228 | -6.1% |
| Trade receivables | 40 | €169,929 | €138,222 | -€31,707 | -18.7% |
| Other amounts receivable | 41 | €14,699 | €35,178 | +€20,479 | +139.3% |
| Current investments | 50/53 | €343,775 | €50,444 | -€293,331 | -85.3% |
| Cash at bank and in hand | 54/58 | €61,508 | €113,751 | +€52,243 | +84.9% |
| Deferred charges and accrued income | 490/1 | €16,500 | €5,425 | -€11,076 | -67.1% |
| Total equity and liabilities | 10/49 | €1,775,935 | €568,537 | -€1.2m | -68.0% |
| Equity | 10/15 | €1,230,081 | €310,851 | -€919,230 | -74.7% |
| Contributions | 10/11 | €18,600 | €4,492 | -€14,108 | -75.9% |
| Reserves | 13 | €703,860 | €169,982 | -€533,878 | -75.9% |
| Non-distributable reserves | 130/1 | €1,860 | €449 | -€1,411 | -75.9% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €449 | +€449 | |
| Distributable reserves | 133 | €702,000 | €169,533 | -€532,467 | -75.9% |
| Profit (loss) carried forward | 14 | €507,621 | €136,378 | -€371,244 | -73.1% |
| Amounts payable | 17/49 | €545,854 | €257,685 | -€288,169 | -52.8% |
| Amounts payable after more than one year | 17 | €448,916 | €0 | -€448,916 | -100.0% |
| Financial debts | 170/4 | €448,916 | €0 | -€448,916 | -100.0% |
| Amounts payable within one year | 42/48 | €96,938 | €234,185 | +€137,248 | +141.6% |
| Current portion of amounts payable after more than one year | 42 | €57,396 | €821 | -€56,575 | -98.6% |
| Trade debts | 44 | €22,033 | €122,264 | +€100,231 | +454.9% |
| Suppliers | 440/4 | €22,033 | €122,264 | +€100,231 | +454.9% |
| Taxes, remuneration and social security | 45 | €17,508 | €0 | -€17,508 | -100.0% |
| Taxes | 450/3 | €17,508 | €0 | -€17,508 | -100.0% |
| Other amounts payable | 47/48 | - | €111,100 | +€111,100 | |
| Accrued charges and deferred income | 492/3 | - | €23,500 | +€23,500 | |
| Turnover | 70 | - | €1,292,772 | +€1.3m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,091,184 | +€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,368 | €29,489 | -€70,880 | -70.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €500 | €0 | -€500 | -100.0% |
| Other operating charges | 640/8 | €8,254 | €19,748 | +€11,494 | +139.2% |
| Non-recurring operating charges | 66A | €4,776 | €0 | -€4,776 | -100.0% |
| Gross operating margin | 9900 | €801,283 | €214,463 | -€586,821 | -73.2% |
| Operating profit (loss) | 9901 | €687,385 | €165,226 | -€522,159 | -76.0% |
| Financial income | 75/76B | €5,149 | €1,763 | -€3,387 | -65.8% |
| Recurring financial income | 75 | €5,149 | €1,763 | -€3,387 | -65.8% |
| Financial charges | 65/66B | €16,604 | €16,082 | -€522 | -3.1% |
| Recurring financial charges | 65 | €16,604 | €16,082 | -€522 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €675,930 | €150,907 | -€525,023 | -77.7% |
| Income taxes | 67/77 | €169,004 | €26,019 | -€142,985 | -84.6% |
| Profit (loss) for the period | 9904 | €506,926 | €124,887 | -€382,039 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €506,926 | €124,887 | -€382,039 | -75.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.